Darien, CT February 2025 Real Estate Market Report: Insights & Forecast
Assembled by: Judy Michaelis, 203-247-5000
Market Trends Report – January 2025
Overview
The overview below shows real estate activity for January 2025. You will see data comparisons between January and the previous month, the last three months and January 2024.
| Overview | YTD Avg. | January | December | Oct. – Dec. | Jan. 2024 |
|---|---|---|---|---|---|
| New Listings | 17 | 17 | 2 | 10 | 13 |
| Average Sales Price per Square Foot | 710 | 710 | 671 | 711 | 751 |
| Average Days on Market | 53 | 53 | 36 | 38 | 125 |
| Number of Properties for Sale | 19 | 19 | 16 | 22 | 27 |
| Average List Price | $4,311,363 | $4,311,363 | $5,661,994 | $4,783,918 | $4,429,552 |
| Median List Price | $4,490,000 | $4,490,000 | $4,941,500 | $4,145,500 | $3,395,000 |
| Average Sales Price | $2,068,636 | $2,068,636 | $1,954,912 | $2,337,136 | $3,305,200 |
| Median Sales Price | $1,850,000 | $1,850,000 | $2,296,000 | $2,048,500 | $3,450,000 |
| Sales Price / List Price Ratio | 105.13% | 105.13% | 107.24% | 107.21% | 104.43% |
| Number of Properties Sold | 11 | 11 | 16 | 16 | 5 |
| Month’s Supply of Inventory | 1.73 | 1.73 | 1 | 1.56 | 5.4 |
| Absorption Rate | 0.58 | 0.58 | 1 | 0.78 | 0.19 |
Average & Median Sales Price
The median sales price in January 2025 was $1,850,000, down -19.43% from $2,296,000 from the previous month and -46.38% lower than $3,450,000 from January 2024. The January 2025 median sales price was at a mid level compared to January 2024 and 2023.
The average sales price in January 2025 was $2,068,636, up 5.82% from $1,954,912 from the previous month and -37.41% lower than $3,305,200 from January 2024. The January 2025 average sale price was at a mid level compared to January 2024 and 2023.
Sales Price / List Price Ratio
The sales price/list price ratio is the average sale price divided by the average list price for sold properties expressed as a percentage. If it is above 100%, homes are selling for more than the list price. If it is less than 100%, homes are selling for less than the list price.
The January 2025 sales price/list price ratio was 105.13%, down from 107.24% from the previous month and equal to January 2024.
Number of Properties Sold & Absorption Rate
The number of properties sold in January 2025 was 11, down -31.25% from 16 from the previous month and 120.0% higher than 5 from January 2024. The January 2025 sales were at a mid level compared to January 2024 and 2023.
Absorption rate is the avg number of sales per month divided by the total number of available properties.
Average Days on Market
The average days on market (DOM) is the number of days a property is on the market before it sells. An upward trend in DOM tends to indicate a move towards a buyer’s market, a downward trend tends to indicate a move towards seller’s market.
The DOM for January 2025 was 53 days, up 47.22% from 36 days from the previous month and -57.60% lower than 125 days from January 2024. The January 2025 DOM was at a mid level compared with January 2024 and 2023.
Average Sales Price per Square Foot
The average sales price per square foot is a more normalized indicator for the direction of property value. The sales price per square foot in January 2025 was $710, up 5.81% from $671 from the previous month and -5.46% lower than $751 from January 2024.
Inventory & MSI
The number of properties for sale in January 2025 was 19, up 18.75% from 16 from the previous month and -29.63% lower than 27 from January 2024. The January 2025 inventory was at its lowest level compared with January 2024 and 2023.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The January 2025 MSI of 1.73 months was at its lowest level compared with January 2024 and 2023.
New Listings
The number of new listings in January 2025 was 17, up 750.0% from 2 from the previous month and 30.77% higher than 13 from January 2024. The January 2025 listings were at its highest level compared to January 2024 and 2023.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the January 2025 Darien Market Update:
🏠 Home prices dropped significantly – Median sales price is $1.85M. That's down 19% from last month and 46% lower than last year, marking a substantial correction from recent highs.
⏰ Homes are taking longer to sell – Average days on market increased to 53, up 47% from last month's fast-moving 36 days, though still 58% faster than last year's sluggish 125 days.
📈 Inventory remains constrained but improving – 19 homes for sale, up 19% from last month but still down 30% from a year ago. Supply remains tight in this luxury market despite the monthly increase.
📊 Sales activity slowed from December – 11 homes closed in January, down 31% from last month's strong 16 sales, but dramatically up 120% from last year's weak 5 sales.
What Buyers and Sellers Need to Know
✨ Sellers: Homes are still selling above asking at 105% of list price, indicating underlying demand remains strong despite the recent price correction. The market is adjusting from December's rapid pace.
🔍 Buyers: You're seeing more realistic pricing with the 19% monthly price drop, and while days on market increased, properties are still moving relatively quickly. The 750% surge in new listings (17 vs 2 last month) suggests more selection ahead.
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